Prudent Man Advisors LLC Makes New $218,000 Investment in Perficient, Inc. (NASDAQ:PRFT)

Prudent Man Advisors LLC purchased a new stake in shares of Perficient, Inc. (NASDAQ:PRFT) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 2,619 shares of the digital transformation consultancy’s stock, valued at approximately $218,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Pacer Advisors Inc. purchased a new position in shares of Perficient in the 2nd quarter valued at approximately $26,000. Strs Ohio lifted its position in Perficient by 300.0% during the second quarter. Strs Ohio now owns 800 shares of the digital transformation consultancy’s stock valued at $66,000 after buying an additional 600 shares during the period. Lazard Asset Management LLC boosted its holdings in shares of Perficient by 20.1% during the 4th quarter. Lazard Asset Management LLC now owns 1,506 shares of the digital transformation consultancy’s stock valued at $105,000 after buying an additional 252 shares in the last quarter. State of Wyoming grew its position in shares of Perficient by 198.7% in the 4th quarter. State of Wyoming now owns 2,043 shares of the digital transformation consultancy’s stock worth $143,000 after buying an additional 1,359 shares during the period. Finally, Shell Asset Management Co. bought a new position in shares of Perficient in the 2nd quarter worth about $189,000. Institutional investors own 93.39% of the company’s stock.

Perficient Trading Up 0.3 %

Shares of NASDAQ:PRFT opened at $63.44 on Tuesday. The company has a debt-to-equity ratio of 0.79, a current ratio of 4.14 and a quick ratio of 4.14. Perficient, Inc. has a 1 year low of $51.23 and a 1 year high of $96.93. The company has a market cap of $2.21 billion, a P/E ratio of 22.26, a PEG ratio of 1.85 and a beta of 1.53. The stock’s fifty day moving average price is $59.00 and its 200-day moving average price is $68.58.

Perficient (NASDAQ:PRFT) last posted its earnings results on Tuesday, October 31st. The digital transformation consultancy reported $0.92 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.92. Perficient had a net margin of 11.13% and a return on equity of 26.10%. The business had revenue of $223.20 million for the quarter, compared to analysts’ expectations of $221.99 million. During the same quarter in the prior year, the business earned $0.96 EPS. The business’s revenue for the quarter was down 1.9% compared to the same quarter last year. Sell-side analysts expect that Perficient, Inc. will post 3.39 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Scotiabank lowered shares of Perficient from a “sector outperform” rating to a “sector perform” rating and dropped their price objective for the stock from $80.00 to $70.00 in a research note on Friday, July 28th. Alliance Global Partners reduced their price objective on Perficient from $77.00 to $69.00 in a research report on Thursday, July 27th. Needham & Company LLC dropped their target price on Perficient from $85.00 to $73.00 and set a “buy” rating on the stock in a report on Tuesday, October 31st. JPMorgan Chase & Co. downgraded Perficient from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $84.00 to $70.00 in a report on Friday, July 28th. Finally, StockNews.com assumed coverage on Perficient in a research report on Thursday, October 5th. They issued a “hold” rating for the company. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $74.57.

Perficient Company Profile

Perficient, Inc provides digital consultancy services and solutions in the United States. It offers strategy and transformation solution in digital strategy, technology strategy, business velocity and growth, and organizational change management; and data and intelligence solutions in the areas of analytics, artificial intelligence and machine learning, big data, business intelligence, and custom product portfolio.